Neuberger Berman receives approval to set up mutual funds unit in China

Follows similar move from Blackrock

Valeria Martinez
clock • 1 min read

Neuberger Berman has received approval from the China Securities Regulatory Commission (CSRC) to begin operations managing local currency mutual funds for Chinese investors.

The firm is now the second global asset manager to receive final approval to launch a wholly owned, newly established mutual fund business in China. BlackRock was the first global asset manager to receive a licence in June 2021. Several other global asset managers, including Schroders, Fidelity International and VanEck have also applied to set up wholly owned mutual fund businesses in China. Fidelity PM exits £2.4bn China Focus fund to take on new leadership role Patrick Liu, CEO of Neuberger Berman Fund Management China, said: "We are honoured to now be able to broadly serve Chine...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Amundi in talks to acquire AllianzGI - reports

Amundi in talks to acquire AllianzGI - reports

Joint venture also considered

Sorin Dojan
clock 05 December 2024 • 1 min read
AJ Bell launches £30m share buyback scheme as revenue surges 23%

AJ Bell launches £30m share buyback scheme as revenue surges 23%

‘Record financial performance’

Eve Maddock-Jones
clock 05 December 2024 • 2 min read
Alliance Witan and St James's Place set to join FTSE 100

Alliance Witan and St James's Place set to join FTSE 100

Games Workshop also promoted

Eve Maddock-Jones
clock 05 December 2024 • 2 min read
Trustpilot